Owing to timely introduced strategies on diversification of economy, Qatar’s industrial sector is witnessing robust growth in recent years. Qatar is moving forward with steady steps in supporting and empowering small and medium enterprises and localising small and medium industries.
According to the latest data, number of registered and licensed firms in the country reached 1,449 in the current year. The data by the Ministry of Commerce and Industry (MoCI) on its industrial portal reveals the number of registered firms stood at 966; licenses issued for industrial firms totalled 483, total investments in the companies reached QR233.136bn and the value of production amounted to QR2.563 trillion.
The portal shows the top five sectors by number of firms which include manufacture of fabricated metal products, except machinery and equipment (216); manufacture of other non-metallic mineral products (217); manufacture of rubber and plastics products (198); manufacture of food products (169); and manufacture of chemicals and chemical products (124).
While the top five sectors by investment include manufacturing of coke and refined petroleum products; chemicals and chemical products; basic metals; other transport equipment; other non-metallic mineral products; and fabricated metal products, except machinery and equipment. In addition to completing a number of other transactions such issuing, renewing, or writing off, increasing production capacity, modifying production data, requesting changing the location of the industrial project, and requesting approval to shut down the industrial project.
Meanwhile in a recent move, the Ministry of Municipality significantly reduced rental rates for lands in the industrial zone designated for commercial and industrial activities. The ministerial decision will boost the business activities and support the national economy.
It aims to support supportive activities on the lands of the industrial zone affiliated with the Ministry of Municipality, whether they are commercial, industrial, logistical activities or for workers’ housing purposes. It stipulates reducing the rental value of lands allocated for commercial activities from QR100 to QR10 per square meter annually, recording by 90 percent.
In a similar move to boost businesses in the country, fees for services provided by the Ministry of Commerce and Industry were reduced up to 90%. The ministerial decision aims to support economic growth in the country, encourage national and foreign enterprises, and create an attractive business environment for investment. It also aims to implement the objectives of the Third National Development Strategy (2024-2030), which seeks to achieve sustainable economic growth, economic diversification, and the development and enhancement of the business environment, in pursuit of achieving the Qatar National Vision 2030.
